Courtesy of Ryan A+E Inc.

EXCERPT: “The Twin Cities currently faces a shortage of 70,000 affordable housing units. City officials promise an increase over the next year in affordable rental units for tenants making 30% to 60% of the region’s median income and requiring a minimum 20% of new residential projects be set aside for households making 60% of the regional median income. Like Denver, Minneapolis is working to expand access to public transit for low-income residents by offering incentives. Multifamily builders developing 50 or fewer rental units can receive a 100% parking ratio reduction if the projects are within 0.25 miles of a bus stop or 0.5 miles of a train station. Developers constructing more than 50 units are eligible for a 50% reduction.” FULLSTORY: